Transfer pricing requires evidence for AMP transactions, functionally reliable comparables, and appropriate aggregation or Berry Ratio benchmarking me...
Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
The ITAT considered the taxability of salary earned in China by an individual residing in China. The AO argued that the salary was taxable in India due to an existing employer-employee relationship. However, the ITAT agreed with the argument that as the individual was a tax resident of China, the salary income was taxable in China only. The ITAT held that the salary for services in China was exempt u/s Article 15(1) of the India-China DTAA. The ITAT directed the AO to allow the exemption, noting that the proportionate salary for services in India had already been taxed in India and the remaining salary in China. The individual had not claimed foreign tax credit. Decision favored the assessee.
The ITAT considered the taxability of salary earned in China by an individual residing in China. The AO argued that the salary was taxable in India due to an existing employer-employee relationship. However, the ITAT agreed with the argument that as the individual was a tax resident of China, the salary income was taxable in China only. The ITAT held that the salary for services in China was exempt u/s Article 15(1) of the India-China DTAA. The ITAT directed the AO to allow the exemption, noting that the proportionate salary for services in India had already been taxed in India and the remaining salary in China. The individual had not claimed foreign tax credit. Decision favored the assessee.
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